Leading self-managed digital asset custody platform GK8 integrated with MetaMask to provide institutional investors with access to decentralized finances (DeFi). These investors will be able to access a variety of features and combine GK8’s benefits without the tradeoffs of a regular DeFi connection.
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In addition to DeFi, GK8 offers its users access to staking, non-fungible tokens (NFTs), and tokenization, according to a press release shared with Bitcoinist. The company’s users managed over $10 billion in digital assets.
Together with MetaMask Institutional, a version of the popular crypto wallet aimed at crypto companies and large investors, users can leverage high-level custody, security, compliance features, and operational efficiency, the release claimed.
GK8 clients will be able to access MetaMask from their MPC vault, a proprietary product that enables users to automatically sing transactions at scale. The MPC vault will provide institutions with access to DeFi via a web browser extension and will combine it with their Cold Wallet feature.
The latter is the only solution capable of creating, signing, and broadcasting a transaction on the blockchain without using the internet, the press release claims. This removes a potential vector attack from bad actors while expanding the users’ capabilities in the digital economy.
GK8 support Ethereum Virtual Machine (EVM) compatible layer 1 blockchains and access to selected layer-2 smart contracts, the release added. In addition, users will be able to insurance their access due to a partnership with AON. Johann Bornman, Global Product Lead for MetaMask said:
GK8 and MMI’s solution grants institutions unrivaled DeFi access, with the security and versatility that institutional-grade customers need. We are delighted with this integration as we work to build a safer Web3 for all.
MetaMask Expands Beyond 10 Million DeFi Users
In the last months, MetaMask has been consolidating partnerships and taking on initiatives to provide users with new features as it moves to a decentralized governance model. The crypto wallet was able to reach 10 million users and has been hinting at launching its own token.
The onboarding of financial institutions into the DeFi sector is another milestone that could take MetaMask to the next level. The cooperation with GK8 seems to be the right step in that direction. Lior Lamesh, CEO and Co-Founder of GK8 said the following:
Financial institutions can bring their operations on a whole new level by moving into the blockchain space. But for that, they need a secure and easy-to-use backbone that’s making no compromises on functionality. With MetaMask Institutional, we are bringing them all they need to explore DeFi at business pace and with the highest security imaginable, through something as simple as a browser extension.
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At the time of writing, Ethereum (ETH) trades at $3,000 with a 2% profit in the last 24-hours and a 10% loss in the past 7 days.